Automotive: Stellantis blows out its first candle with an impressive profit

Posted 23 Feb. 2022 at 9:18 amUpdated Feb 23. 2022 at 10:35

Carlos Tavares can be jubilant. The first year of existence of Stellantis, the group born of the merger between PSA and Fiat Chrysler of which he is managing director, was marked by record results, which is more for a generalist manufacturer. It generated adjusted operating profitability of 11.8% and net income of 13.4 billion euros in 2021, for pro-forma revenue of 152 billion, up 14%. Levels worthy of the best premium builders.

The new car giant has, like the entire sector, paradoxically benefited from the shortage of semiconductors. It cut its production by 20% compared to its forecast, i.e. 1.7 million vehicles: Stellantis produced only 6.1 million vehicles last year (+3% compared to 2020). But this shortage allowed it to allocate the available chips to the most profitable vehicles, thereby boosting its profitability.

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